Biggest Movers: BCH Hits Fresh Multi-Month High While MATIC Extends Decline
Bitcoin Cash managed to scale a new all-time high on Tuesday, hitting its new multi-month high despite bearish crypto markets. Sure enough, after moving as low as $143.19 to start the week, it moved to a 1-day high of $152.71 in today’s session. After this year, bitcoin cash went to its fairest price since July 31, which is the last time it was priced was above $150.00. Overall, Bitcoin Cash is up nearly 20% over the past 7 days and has already rallied after today’s rise following a breakout on the Relative Strength Index. Price strength has moved past a range at 68.00 and at the time of writing, is tracking at 69.88. Despite the next visible range being at 71.00 the earlier gains have started eroding and with that the bulls choose to take safe profits.
Polygon (MATIC) was one of the top movers last week while it has fallen for a fourth session today and on Tuesday the token fell to $1.41 less than a day after its price traded at $1.50. is displayed. On Saturday, Polygon bulls pushed their price into the overbought zone by taking their coin to its strongest point since last April, and as a result of this zone, how bears received it entering the market and the Relative Strength Index from a high of 75.10 to a current reading of 62.70. The index is now hovering just above a floor at 62.00, and should continue to struggle to break it, the bears may attempt to extend the recent decline.
